Fixed Rate Cash ISA - Issue 1 - Product Details

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Open a cash ISA and you can enjoy an attractive rate of tax-free interest.

This account can only be opened by new customers who live within the following postcode areas: NP, CF, SA, LD, WR, GL, HR, BS, BA, SN, RG, OX, SY and TA. Existing Society customers may open this account.

Summary Box - Key Product Information

Account Name
Fixed Rate Cash ISA - Issue 1
What is the interest rate?
  • 1.05% AER/ Tax-free Annual Interest - fixed from account opening until 30th November 2018.
  • Interest is fixed and calculated on a daily basis on the balance in the account.
  • Interest can be credited to your account or paid annually into a bank account following close of business on March 31 each year (and on maturity of the fixed rate term).
  • Interest is paid tax-free.

Can Monmouthshire Building Society change the interest rate?

  • No - the interest rate is fixed until 30th November 2018.

What would the estimated balance be after 12 months based on £3000 deposit?

  • £3,031.50
  • We have worked this out assuming a £3,000 deposit is made and no further deposits or withdrawals are made during a 12 month period.














How do I open and manage my account?



  • This account is available to new and existing customers.
  • Minimum age of account holder is 16 years.
  • We accept deposits from current years subscriptions and these can be deposited into this account directly.
  • We also accept transfers from other Monmouthshire Building Society Cash ISAs. The transfer must be made by 31st July 2017.
  • No subscriptions or transfers-in will be accepted after 31st July 2017 for the 17/18 tax year and/or subsequent tax years.
  • You can open and manage your account at any branch or agency office, by post or on line (if registered with our 'My Accounts' service and aged 16 years or over).
  • A minimum amount of £3,000 must be held in the account.
  • The maximum annual subscription is £20,000.
  • Transfers-in from other ISA providers are not permitted.








Can I withdraw money?



  • No partial withdrawals are allowed.
  • Full closure of your account is permitted at any time during the fixed period, subject to 90 days loss of interest, calculated on the closing balance (or such shorter period to maturity of the ISA).
  • If the account balance falls below £3,000, the account will revert to the Society's available Variable Rate Cash ISA.
  • From 1st December 2018 withdrawals, closures and transfers are subject to the terms and conditions of the Society's variable rate Cash ISA or the nearest equivalent account available at that time.
  • This is not a flexible ISA meaning any amount withdrawn cannot be replaced.

Additional Product Information

  • This is a limited issue product which may be withdrawn without notice at any time.
  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year.
  • The tax-free rate is the contractual rate of interest payable where interest is exempt from income tax.                 

      How can I open a Fixed Rate Cash ISA - Issue 1?

      This account is available to new and existing customers. We accept deposits from current years subscriptions and these can be deposited into this account directly. Transfers-in are not permitted unless the transfer-in is from an existing Monmouthshire Building Society Cash ISA Account. All applications must be received by 31st July 2017. No transfers-in from other ISA managers will be accepted. You can only open one Fixed Rate Cash ISA - Issue 1 with the Society. Accounts cannot be held jointly.

      You can apply online or simply complete an application form and take or post it to your nearest branch or agency office. If you wish to open an account by post, you need to send us a personal cheque drawn on your personal account, made payable to the applicant(s) name.

      When you apply to open an account with us, we'll ask you for proof of your name and address, and an electronic check of your identity will be undertaken. This is required by law to verify the true identity of all new and existing customers. For full details please refer to our leaflet Proving Your Identity. Identity checks are an important part in the fight against terrorism and other criminal activities.

      Customers can now enjoy the convenience of managing their account(s) online using our 'My Accounts' service. For more information and to register, please click here.

      This is a limited issue ISA which may be withdrawn at any time.

      What is the minimum investment balance for this Fixed Rate Cash ISA - Issue 1? 

      • The minimum investment is £3,000.

      Can I make further deposits?

      • Once you have opened your Fixed Rate Cash ISA - Issue 1, no further transfers in will be accepted after 31st July, 2017 for the 17/18 tax years and/or subsequent tax years. From 1st December 2018, deposits are subject to the terms and conditions of the Society's Variable Rate Cash ISA or its nearest equivalent available at that time.
      • We do not accept transfers of Cash ISA funds from other ISA managers. We do accept deposits from current years subscriptions and these can be deposited into this account directly, or by way of transfer-in from an existing Monmouthshire Building Society Cash ISA account which must be in full.

      Can I make withdrawals?

      • No partial withdrawals are allowed. Full closure of your account is permitted at any time during the fixed period, subject to 90 days loss of interest, calculated on the closing balance (or such shorter period to maturity of the ISA).
      • You must maintain a balance of £3,000 during the fixed rate period or the account will revert to the Society's currently available Cash ISA at that time.
      • From 1st December, 2018, withdrawals, closures and transfers are subject to the terms and conditions of the Society's Variable Rate Cash ISA or its nearest equivalent available at that time. Withdrawals are subject to the limits of the branch or agency you use. Details of our cash and cheque withdrawal limits are displayed in our branch offices, available from our website or our Head Office. You can also make withdrawals by electronic transfer using the 'My Accounts' system. Online withdrawals using the 'My Accounts' system are subject to further terms and conditions.

        What happens at the end of the fixed rate period?

        • At the end of the fixed rate period, the account will revert to the interest rate of the Society's Variable Rate Cash ISA or its nearest equivalent available at that time.

        Can l transfer my Monmouthshire Building Society Fixed Rate Cash lSA - Issue 1 to another ISA provider? 

        • You may transfer your current tax year's Cash ISA subscriptions in whole to another Cash ISA with another ISA manager. The transfer must be the whole amount saved in your Cash ISA, in that tax year, up to the day of the transfer and will be subject to 90 days loss of interest calculated on the closing balance (or such shorter period to maturity of the ISA).

        Can I transfer-in the balance from another ISA provider to a Monmouthshire Building Society Fixed Rate Cash ISA · Issue 1?

        • No, transfers-in are not permitted unless the transfer is from an existing Monmouthshire Building Society Cash ISA account. All transfers must be received by 31st July 2017.

        If I withdraw funds, does that count against my annual subscription?

        • This is not a flexible ISA meaning the amount withdrawn cannot be replaced.
        • However, Cash ISA transfers from one ISA provider to another are not classed as withdrawals, and must be arranged by your new ISA provider on your behalf.
        • It is important that you do not withdraw funds yourself that you wish to transfer, as they will lose their 'Tax-Free' status.

          Financial Services Compensation Scheme

          We are part of the Financial Services Compensation Scheme (FSCS). Details of the scheme, and who is covered by it, are available here.

          It is important that you read the 'General Terms & Conditions for Savings Accounts' and the account specific Terms and Conditions before deciding to open an account.

          >> Fixed Rate Cash ISA - Issue 1 -  Specific Terms and Conditions   

          >> General Terms & Conditions for Savings Accounts

          >> View Interest Rates

          >> ISA Subscription Limits

          >> Branch and Agency Withdrawal Limits

          >> Opening an Account

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